Which of the following offers theories to explain why the government, like the private sector, may also "fail"?
A. social economics
B. public choice theory
C. rational expectations theory
D. Keynesian economics
Answer: B
Economics
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One problem with the infant industry argument is that
A) the protection is typically never removed, creating a domestic monopoly. B) it fails to protect domestic industries from foreign competition. C) it must be approved by the IMF and the World Bank. D) it must be approved by the Federal Reserve Board.
Economics
Output Total Cost015125233340448558670
Refer to Table 5.5. The total variable cost of producing five units of output is:
A. $8.60. B. $43. C. $48. D. $58.
Economics